§1041. Transfers of property between spouses or incident to divorce — Inbound Citations
26 U.S.C. § 1041
Cited by 12 provisions in release 119-102.
Citations to 26 U.S.C. § 1041 as a whole
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(1) In determining gain or loss from the sale or other disposition of a term interest in property, that portion of the adjusted basis of such interest which is determined pursuant to section 1014, 1015, or 1041 (to the extent that such adjusted basis is a portion of the entire adjusted basis of the property) shall be disregarded.
Citations to §1041(a)
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(C) In the case of a transfer of a residence to which section 1041(a) applies—(i) paragraph (2) shall not apply to such transfer, and
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(B) In the case of any transfer described in subsection (a) of section 1041—(i) the foregoing provisions of this subsection shall not apply, and(ii) the same tax treatment under this subsection with respect to the transferred property shall apply to the transferee as would have applied to the transferor.
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(ii) Clause (i) shall not apply to any transfer to which section 1041(a) (relating to transfers of property between spouses or incident to divorce) applies.
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(A) In the case of an individual holding property transferred to such individual in a transaction described in section 1041(a), the period such individual owns such property shall include the period the transferor owned the property.
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(g) Subsection (a)(1) shall not apply to any transfer described in section 1041(a) (relating to transfers of property between spouses or incident to divorce).
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(4) In the case of any transfer described in subsection (a) of section 1041—(A) such transfer shall not be treated as a disposition for purposes of this part, and(B) the same tax treatment under this part with respect to the transferred property shall apply to the transferee as would have applied to the transferor.
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(g) In the case of any transfer described in subsection (a) of section 1041 (other than a transfer in trust)—(1) subsection (a) of this section shall not apply, and(2) the same tax treatment with respect to the transferred installment obligation shall apply to the transferee as would have applied to the transferor.
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(e) In the case of any property acquired by gift in a transfer described in section 1041(a), the basis of such property in the hands of the transferee shall be determined under section 1041(b)(2) and not this section.
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(B) In the case of any transfer described in section 1041(a) of stock of an S corporation, any loss or deduction described in subparagraph (A) with respect such stock shall be treated as incurred by the corporation in the succeeding taxable year with respect to the transferee.
Citations to §1041(b)(2)
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(III) section 1041(b)(2) (relating to transfers of property between spouses or incident to divorce),
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(e) In the case of any property acquired by gift in a transfer described in section 1041(a), the basis of such property in the hands of the transferee shall be determined under section 1041(b)(2) and not this section.